Private mortgage disclosure has more moving parts than a conventional file: a relationship between the broker and the lender that needs naming, a cost of credit that needs to be spelled out precisely, and, in several provinces, a specific prescribed form with its own timing rule.
This checklist works through what actually needs to be collected and delivered, using Ontario's requirements as the most fully documented example, with the equivalent items for BC, Alberta, and Quebec alongside.
Step 1. Ontario: Form 1 and the relationship and conflict disclosures
- →Form 1 Investor/Lender Disclosure Statement for Brokered Transactions, delivered at the earliest opportunity.
- →Delivered no later than two business days before funds are advanced, or one business day with the lender's written consent.
- →Section 26 disclosure of the nature of the brokerage's relationship with the lender.
- →Section 27 disclosure of any actual or potential conflict of interest.
- →Confirmation the arranging agent holds a mortgage agent level 2 licence with the Private Mortgages course completed.
Step 2. British Columbia: Form 9 lender disclosure
- →Form 9 disclosure of any direct or indirect interest the broker or a related party holds in the transaction.
- →Disclosure statement dated and signed by the mortgage broker.
- →Delivered on or before the advancement of funds, or before release from trust if funds are held in trust.
- →A copy retained for at least seven years.
- →Confirmation the lender doesn't qualify as an exempt “sophisticated person” before skipping the disclosure.
Step 3. Alberta: borrower disclosure and consent when representing the lender
- →Confirmation of whether the brokerage represents the lender, the borrower, or both.
- →A signed Borrower Disclosure and Consent form when the brokerage represents the lender and the borrower is unrepresented.
- →Disclosure of any financial interest the broker or brokerage holds in the lending entity, such as MIC shares.
- →A written service agreement with all terms and conditions, including compensation.
Step 4. Quebec: written disclosure of lender relationships and remuneration
- →Written disclosure of the number of lenders the broker has placed loans with over the past 12 months.
- →Written disclosure of the broker's mode of remuneration for the transaction.
- →Confirmation the broker holds a valid AMF mortgage broker certificate.
- →Delivered before the client signs any agreement.
General items that apply regardless of province
Beyond the province-specific forms, every file needs a plain-language cost-of-credit breakdown covering rate, lender fee, and broker fee, and confirmation the client had a real opportunity to read and ask questions before signing — not just a signature collected alongside a stack of other closing documents. For the reasoning behind each requirement, see private lending disclosure rules across Canada.
Brokerages running private files through Treadstone's fulfillment team get this checklist built into intake, so disclosure is never the item assembled the night before funding.